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Re:SoftBank unmasked as ‘Nasdaq whale’ that stoked tech rally by arcticbull on Friday September 04, 2020 @05:09PM (#24378911)
I've been making a solid salary selling near the money 0.3 delta S&P futures options (puts) 3X weekly. Let's see if the party continues :)
Re:SoftBank unmasked as ‘Nasdaq whale’ that stoked tech rally by esdfasdf on Friday September 04, 2020 @06:52PM (#24379694)
How did this strategy fare during the last couple days though? Wouldn't weeks or months of profit have been wiped out? Though I guess if it's done for a long enough time it's probably ok
Re:SoftBank unmasked as ‘Nasdaq whale’ that stoked tech rally by arcticbull on Friday September 04, 2020 @08:50PM (#24380484)
Yeah I’d built up a sufficient buffer, and suspected a correction was coming as the VIX and S&P have been rising together for the last few days. I bought puts 2 days ago instead of selling them. Even if I hadn’t, the last few days would have taken out 25% of my strategy gains YTD. However as a put seller I’d have rolled them down and out, repeatedly, until they expire OTM.

If you lack the cojones for such a mad strategy haha, you can always sell put credit spreads to define your risk at the cost of reducing your return.